Simpson Thacher & Bartlett acted for JP Morgan, Bank of America Merrill Lynch and Natixis in a $660 million bridge loan financing to Cementos Argos.
Cementos Argos is the fourth largest cement producer in Latin America and the only producer of white cement in Colombia. The company is a division of Grupo Argos and has operations in Colombia, the United States, Panamá, Honduras and the Caribbean.
Cementos Argos will use the loan proceedings to finance the acquisition of the U.S. assets of German rivals HeidelbergCement, including its West Virginia cement plant and eight related terminals.
Partner Juan F. Méndez led the Simpson Thacher team advising the banks.